Junshi Biosciences And Impact Therapeutics Establish Joint Venture To Develop PARP Inhibitor Senaparib (IMP4297) In China
Junshi Biosciences, a leading innovation-driven biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies, and Impact Therapeutics, a privately held clinical-stage biopharmaceutical company devoted to the discovery and development of targeted anti-cancer therapeutics based on synthetic lethality, annouced that they reached a strategic agreement to establish a joint venture focusing on the research and development and commercialization of PARP inhibitor, a small moleule anti-tumor agent.
Under the agreement, Junshi Biosciences will contribute at most RMB 300 million in cash, representing 50% of the registered capital of the JV company. Impact Therapeutics will contribute by way of injection of the IMP4297 asset in the collaboration territory (Mainland China, Hong Kong, and Macao), representing the other 50%. Both parties will work closely together to develop IMP4297 in the collaboration territory including conducting the clinical studies of multiple indications, manufacturing and commercialization preparation.
“Impact Therapeutics is a leader among domestic targeted anti-tumor drug discovery companies. We are excited to have the opportunity to partner with Impact to bring domestic innovation to benefit patients in China and beyond. Data showed that Senaparib (IMP427) has superior safety and has the potential to be the best-in-class, which means that IMP427 has great potential as a monotherapy as well as in combination with other agents,” said Ning Li, M.D., Ph.D., Chief Executive Officer of Junshi Biosciences.
Dr. Jun Bao, CEO of Impact Therapeutics, stated that, “Junshi Biosciences is an emerging innovative pharmaceutical company who has achieved a great deal in anti-cancer therapeutics. We are delighted to establish the collaboration partnership with Junshi. We believe both Impact and Junshi will take advantages of each team’s strength to expedite the clinical development of IMP4297 and explore additional indications to bring more benefit to the patients.”